The reading this week discusses strategy and how ERM can be integrated with an organization’s overall strategy. Prepare a research paper on some of the various issues, protocols, methods, frameworks you found and discuss how – if possible – organizations can use ERM as strategy. It is perfectly acceptable if you deem ERM cannot be used as strategy, just back up your claim with scholarly research and justifications.
Your paper should meet these requirements:
ERM can be used as an offensive and defensive strategy for protecting and enhancing the value of an organization. As a strategy, it could help firms identify and manage risks posing threats to achieving strategic objectives. Therefore, ERM as a strategy makes organizations more agile and reduces the execution gap. ERM usually fails when made the main strategy because it functions well as a strategic enabler.